First DBSS resale units fetch up to nearly $700,000

The 616-unit The Premiere @ Tampines is the first Design, Build and Sell Scheme (DBSS) project to hit the resale market. -- ST FILE PHOTO SINGAPORE'S first resale units from a premium public housing scheme have been sold, with the priciest going for almost $700,000. These prices for The Premiere @ Tampines flats exceed the going rate for regular Housing Board units in the area, but fall below the highest asking price of $800,000. Property watchers expect this to set a benchmark for the 616-unit development, the first Design, Build and Sell Scheme (DBSS) project to hit the resale market. The prices mean a "tidy profit" of more than $200,000, as "the owners would have bought the units for under half a million dollars originally", said SLP International Property Consultants head of research Nicholas Mak. Five-room units in The Premiere originally went for $308,000 to $450,000...